HDFC ERGO General Insurance Company, India’s third largest non-life insurance provider in the private sector launched the ‘Cyber Security Awareness Week’ starting from October 21, 2018 to October 27, 2018. During the week, HDFC ERGO aims to create awareness about the facets of cybercrime and promote the need of cyber security among individuals under its theme ‘#HackSeLado’.

In order to commence the launch of Cyber Security Week, HDFC ERGO invited esteemed speakers to shed light on the increasing number of cybercrimes in India and discuss the on-going challenges faced by individuals. The panellists for the discussion were as follows:

• Balsingh Rajput, DCP Cyber Crime Maharashtra

• Saket Modi, Ethical Hacker Lucideus Tech

• SuhasTuljapurkar, Managing Partner, Legasis Partners and Founder Director Legasis Services

• Varkha Chulani, Clinical Psychologist & Mental Health Expert

• Anurag Rastogi, Member of Executive Management, HDFC ERGO General Insurance Company

Addressing the panel Dr. Balsingh Rajput, DCP Cyber Crime Maharashtra said, “There is an alarming rate of Cyber Crimes in the country with a growth rate of 100% year-on-year. Scams such as Phishing have become an alternate industry, with call centers being set up to defraud unsuspecting victims. Maharashtra Cyber is implementing cyber security and cyber lab project to enable law enforcement to tackle these crimes.”

Mr. Saket Modi, CEO & Co-founder, Lucideus added, “There has been a lack of awareness amongst individuals while using technology or the social media. In this digital age most of us haven't been trained to handle a smartphone and hence easily fall prey to basic hacks. Individuals need to realise that anything uploaded on the internet is prone to be hacked and therefore they need to be careful while being online.”

Commenting on the legalities around a cyber-hack, Mr. Suhas Tuljapurkar, Managing Partner Legasis Partners and Founder Director Legasis Services said, “Definitely there is a deficiency in current laws relating to Cyber Crime. While there are jurisdictional challenges especially when the Cyber Crime crosses the boundaries, there is legislative requirement to bring out robust laws to outpace the advancements made by the organized Cyber Crime industry.”

Talking about the emotional aspect of a cyber-hack, Varkha Chulani, Clinical Psychologist and Mental Health Expert said, “Individuals today suffer from a new condition called ‘Selfitis’. Relationships at home nowadays have become more insecure because of extensive use of gadgets. More than financial loses there are emotional losses seen amongst couples and families. Parents should use discipline and keep time limits for their children to avoid the misuse of the Internet.” 

Commenting on the launch of cyber security insurance week, Mr. Anurag Rastogi, Member of Executive Management, HDFC ERGO General Insurance Company said, “At HDFC ERGO, we are happy to launch the ‘Cyber Security Awareness Week’ to promote awareness about the facets of cyber-crime in India. Today, individuals suffer from huge financial loss as well as emotional loss post a cyber-crime which includes the legal fees or the cost of consulting a psychologist. With the launch of HDFC ERGO E@Secure, individual cyber insurance policy, we aim to help individuals overcome any financial loss as a result of any cyber-attack or cyber bulling.”

HDFC ERGO recently launched E@Secure Cyber Insurance Policy. The policy aims at providing comprehensive protection to individuals and their families against any cyber- attacks, cyber frauds or digital threats that could lead to a financial loss and or reputational loss. For more information on the policy and the full range of HDFC ERGO Insurance products please contact HDFC ERGO representative or visit the website www.hdfcergo.com for further details on risk factors, exclusions, terms and conditions please read the sales brochure before concluding a sale.

About HDFC ERGO

HDFC ERGO General Insurance Company is a 51:49 joint venture between the Housing Development Finance Corporation Ltd (HDFC), India’s premier Housing Finance Institution, and ERGO International AG, the primary insurance entity of the Munich Re Group of Germany. In August 2017, with IRDAI’s approval for the merger of HDFC ERGO General Insurance Co. Ltd. with HDFC General Insurance Ltd. (formerly Known as L&T General Insurance Co. Ltd.), the Company marked the first merger in the General Insurance sector. The merged entity, known as HDFC ERGO General Insurance Co. Ltd., is the third largest General Insurance provider in the private sector.

HDFC ERGO offers products like Motor, Health, Travel, Home, Personal Accident and Cyber Security Insurance in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space through its vast network of 122 branches spread across 106 cities and a wide distribution network.